SponsorsOne Inc (OTCMKTS:SPONF) fell 17% on Friday but up 18% for the past week. The company announced the signing of a distribution deal for Doc Wylder’s with Republic National Distributing Company. SponsorsOne CEO Myles Bartholomew stated that this is a massive milestone for the company to grow its distribution strategy as it seeks to reach leading national retailers.
Myles explained that the ready-to-drink market is current among the rapidly growing Spirits sector markets, and the company is witnessing massive interests for Doc Wylder’s. Most importantly, RTDs are expected to gain a share volume of 22% on total alcohol beverages by 2025, which is an increase from the current share market of 9.6%. SponsorsOne is poised to capitalize on the gain.
RNDC is among the country’s top alcohol beverage wholesalers that specialize in spirits and wines. The distributor has a centralized online platform for new products, key services, and features called eRNDC that offers 24/7 product search, account management &fulfillment, allowing their customer management tools to optimize value and sales activities. The deal is massive for SponsorOne, and in the coming months, it’s worth watching SPONF.
Market Reaction:
On Friday, SPONF stock slumped 17.50% at $0.0260 with more than 35.67 million shares, compared to its average volume of 9.88 million shares. The stock has moved within a range of $0.0245 – 0.0370 after opening the trade at $0.0359.
